European Seafood HICP by Country

The European Seafood Harmonized Index of Consumer Prices (HICP) exhibits notable variances by country, with Hungary at the highest value (15.748) and Ireland at the lowest (9.81). Among the key highlights, Hungary, Estonia, and Poland lead with the highest values, indicating either higher seafood consumption costs or significant market shifts in these markets. Year-on-year variations reveal that Hungary experienced the most significant increase (7.84%), followed by Romania (6.37%) and Poland (5.97%). Conversely, Switzerland and Cyprus showed minimal changes, signaling relatively stable seafood pricing in these countries.

Over the last five years, the Compound Annual Growth Rate (CAGR) provides a comprehensive understanding of average annual price changes, elucidating long-term trends that can influence future market strategies and consumer behaviors. Higher variations in Central and Eastern European countries suggest rapidly changing seafood markets, possibly due to economic growth or changes in consumer preferences.

For future trends, watch for:

• Continued price increases in Eastern European countries as demand for seafood rises and supply chains evolve.
• Potential stabilization or even reduction in Western Europe due to mature markets and efficient supply chains.
• Impact of sustainability initiatives and regulations on pricing, especially in countries with high ecological standards.